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Strategies & Market Trends : Technical Analysis - Beginners
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To: David R. Evans who wrote (7577)1/5/1998 3:19:00 PM
From: Richard Estes  Read Replies (1) of 12039
 
A few comments on reports, I know you are aware, Dave, but for others:

You didn't beat Buy and hold (G)! Why because buy and hold bought on first day of data. Dahl couldn't even talk to you until 51 days later. if you had used >0 as your formula, it may have given you a first buy right at top of a previous real buy of cross(fml(dahl),0)), an important point always use it in metastock, WoW users get into the ref function. You could have had a buy on dahl, 6 months before data started. The drawdowns are high but the 8-12% stop might prevent that being a factor. I still feel it is best to leave stops off, so systems are shown in a pure form.


It is too bad that buy and hold doesn't kick in until the first buy of a system. Someone that uses a 200 MA leaves a year of market on the table before the indicator shows up. Tie this with people loading a year or two data,you don't know what it is saying.

Those with Metastock should look at MAE in trades:

The Maximum Adverse Excursion is the worst intraday price move against a position, measured from the entry price. This risk measurement was developed by John Sweeney of Technical Analysis of Stocks and Commodities magazine. I have talked about this in an E-mail. Chande in the new technical trader talks to it also.


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